Robert Eisenbeis

Robert Eisenbeis News

Federal Reserve officials meeting in Washington today and tomorrow are “wringing their hands” over the U.S. employment situation and are “awfully gun-shy” about undertaking a third round of quantitative easing, said Robert Eisenbeis, chief monetary economist at Cumberland Advisors Inc. in Sarasota, Florida.

Janet Yellen as Federal Reserve vice chairman has spent time building relationships across the Fed’s regional banks and with central bankers from Shanghai to London to Mexico City -- everywhere except the corridors of power in Washington.

President Barack Obama will nominate Janet Yellen as chairman of the Federal Reserve, which would put the world’s most powerful central bank in the hands of a key architect of its unprecedented stimulus program and the first female leader in its 100-year history.